The main cost when selling your home will be the commission. As a Seller, you will be paying both the Listing and Cooperating commissions. However, when it comes time to buy another property, a sales representative's services will be free to you. There is no such thing as a standard commission although most Sellers will offer 2.5% to the cooperating sales representative. If the market is very slow or a property is particularly difficult to sell, some Sellers may decide to offer as much as 3% to the cooperating sales representative. There are no upfront costs for the Seller when listing a home. Commission is only earned by a Realtor if and when a property sells.
Why should I work with a Realtor to sell my home?
Selling a house is an exhausting process. If you are the one stuck doing all of the paper work and showing the house, it can be like taking on a second job. As Realtors, our full time job is getting your home sold! We have access to the most accurate market data and comparables for your property and can help you determine the most realistic and appropriate listing price for your property based on current market conditions. By listing your property on the MLS system, you will expose your house to the largest number of potential and QUALIFIED Buyers that are interested in properties specifically like yours. When negotiating an offer, a Realtor is able to emotionally remove them self from the home and focus on getting the deal that is best for their client.
What is the difference between the Multiple Listing Service (MLS) and the consumer website REALTOR.ca?
The Multiple Listing Service is a system used and accessible only to Realtors. The MLS system contains detailed information and numerous search tools, all designed to match people with the properties that fit their exact requirements.
REALTOR.ca is a website operated by the Canadian Real Estate Association (CREA) that displays an abbreviated version of most listings uploaded to the MLS system.
REALTOR.ca is a website operated by the Canadian Real Estate Association (CREA) that displays an abbreviated version of most listings uploaded to the MLS system.
How long will it take to sell my home?
This will largely depend on market conditions. We will help you determine the best price and strategy to take advantage of the current market. It is very important to take into account market trends when establishing price since an overpriced property will only help sell your competition. A well maintained home will also sell quicker. During a listing appointment we will suggest specific improvements that will help your home stand out in the crowd.
Should I sell or buy first?
Again, this will largely depend on market conditions. If houses are selling quickly, and a property of interest comes up, you may choose to buy the property before you list your own for sale. If property sales are stagnant, it is more far-sighted to list your current property before purchasing a new one.
When should I sell my house?
The best time to sell a home is when there are more buyers than houses available. This can substantially increase the selling price for your home. Some of the best indicators of a good time to sell a home include:
- When the economy is doing well and people's outlook for the future is positive
- When interest rates are low - this allows people to borrow money more cheaply
- When people are more likely to move - traditionally many more houses are sold during the spring than during the winter
How do you determine how much to sell my house for?
We will investigate recent sales figures of similar homes to give you a good estimate on your house's worth. As experienced Realtors, we will factor in both current market conditions as well as those present when the comparable properties sold to come up with a suitable price. Sales closer in time are a more accurate guideline when setting the price on your home. Be careful in setting your price. If you overprice your house, most buyers will simply ignore you and your house could sit on the market for a very long time. The longer a house sits on the market, the more likely other buyers are to think there's something wrong with the house and avoid it.
What are the tax consequences of selling my house?
If your house is your primary residence, any increase in your houses value will not be subject to capital gains tax. If you own more than one property, please consult with a tax professional who can help you determine how to pay less tax.
I've heard that some Real Estate Brokerages will list a property for a flat fee; do you?
What you are referring to is called a “mere posting†where a sales representative simply loads the listing onto the MLS system and offers no other services to the Seller. The Seller is then responsible for determining their own listing price, arranging showings, marketing the property, dealing with legal documents and negotiating offers, while still offering some remuneration (to be negotiated) to the sales representative who produces an offer from their Buyer client. The Seller saves only the listing portion of the commission while taking on many additional expenses and work. Our brokerage is proud to offer a full service experience and as such, we have chosen not take on mere postings. We believe, as professionals, that the role of an experienced and knowledgeable sales representative is invaluable when selling your home.
Do you really give away a car every year?
Yes! Whether you buy, sell or both, every transaction between January 1st and December 31st of a calendar year represents an eligible ballot to win a car. The car draws takes place in December for the previous year's clients and includes a complimentary dinner and fantastic secondary prizes. Commercial and residential leases, referrals, and new home sales are not eligible. Winners are responsible for taxes on the vehicle
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